Derivatives Service Bureau Expands Product Committee Membership

Industry Consultation Results in Broader Representation 

 

London, 4th December 2018 – The Derivatives Service Bureau, founded by the Association of National Numbering Agencies (ANNA) to facilitate the allocation and maintenance of International Securities Identification Numbers (ISINs) for OTC Derivatives, has today announced a new Product Committee membership for its second term, which will serve to further broaden industry collaboration.

The DSB values representation on a fair and equitable basis within the ISIN user community. Following extensive industry consultation and a lengthy invitation process for industry participation, distributed to all DSB users and other interested parties (over 2,800 individuals), the new Product Committee membership has been chosen based on experience, asset class and workflow expertise and geographical representation across all user categories.

From 8th January 2019, 5 trade associations will now be joining as non-voting members, to contribute to a balanced representation of asset class knowledge and geographical representation. Representation will expand on the existing buy-side, sell-side and trading venues, thereby increasing voting members to also include two new categories – custodians and data vendors. In addition, the role of chair will transition from the DSB to two external co-chairs directly from industry, to maintain strict neutral and impartial discussion.

This latest DSB announcement confirms the new industry participants in the DSB Product Committee as follows:

Co-Chairs:

  • BNP Paribas: Harry McAllister, Information Architect
  • Intercontinental Exchange/ NYSE: Joseph Berardo, Head, Credit Product Management

Buy-side

  • Allianz Global Investors: Michael Sandro Bauch, Regulatory Project Manager
  • Citadel: Jonah Platt, Director, Regulatory and Government Policy

Custodians

  • State Street Financial: Michael Burg, Vice President, Derivative Product Offering Management

Data Vendors

  • IHS Markit: Kirston Winters, Managing Director, Head of Product Management – MarkitSERV by IHS Markit
  • Refinitiv: Ben Scofield, FX Content Manager
  • Smartstream RDU: Jourik De Lange, Market Data Analysis

Sell-side

  • Citigroup: Tia Ellerman, Senior Vice President
  • HSH Nordbank: Rene Muller, SVP Market Management
  • P. Morgan: Jay Shotton, Regulatory Change Officer

Trading Venues

  • 42 Financial Services: Maros Oberman, Head of Poland, ZAR Fixed Income
  • Bloomberg L.P.: Adam Lister, IRS Electronic Trading Product Manager EMEA
  • Tradeweb: Uwe Hillnhütter, Director, Head of European Operations

Trade Associations

  • European Fund and Asset Management Association: Vincent Dessard, Senior Regulatory Policy Advisor
  • FIX Trading Community: James Northey, Global Technical Committee Co-chair
  • Global Financial Markets Association: Fiona Willis, Manager, Global Foreign Exchange Division
  • Investment Association: David Broadway, Investment Operations Lead
  • International Swaps and Derivatives Association: Karel Engelen, Senior Director

Emma Kalliomaki, Managing Director of ANNA and the DSB, said, “We would like to convey our thanks to the members of the current Product Committee who have worked tirelessly with the DSB, having met on a weekly basis for the past two years. We are delighted with the high quality of applicants driving the composition of the new Product Committee membership, and are confident that Product Committee discussions will continue to ensure the best possible ISIN creation and use will only serve to bring greater transparency and efficiency to the global OTC derivatives market.”

Malavika Solanki, a member of the DSB Management Team, said, “With this new Product Committee membership and the broad-based expertise they bring, the DSB can now move from developing ISIN products and defining product templates, to solving additional OTC Derivative ISIN use cases and examining the introduction of hierarchies, as well as discussions on what to prioritise.”

ENDS

The Derivatives Service Bureau (DSB) Ltd

The Derivatives Service Bureau is a global numbering agency for OTC derivatives serving the needs of market participants through the allocation of International Securities Identification Numbers (ISINs), the Classification of Financial Instruments (CFI) and Financial Instrument Short Name (FISN), all globally recognised and adopted ISO standards for identifying, classifying and describing financial instruments. With an underlying technology platform that is built to support multiple taxonomies of definitions and descriptive data, as well as numbering in near-real-time, the DSB is motivated to bring greater transparency and integration within the OTC derivatives market, enabling institutional investors to standardise data and better control operational risk. Users can access the DSB through a web interface, by accessing data in daily update files or by direct integration to front-office systems for trading and order management.

The DSB is a legal subsidiary of the Association of National Numbering Agencies (ANNA). With widespread industry representation, expertise and collaboration at its core, the DSB’s history, pedigree and expertise are rooted in ANNA, with its broad experience and overview of handling both on and off-exchange ISINs for all asset classes. If you would like to use the Derivatives Service Bureau please visit the DSB website

About ANNA

The Association of National Numbering Agencies (ANNA) is a global member association seeking to foster standardisation within the financial industry by upholding the International Organization for Standardization (ISO) principles and by promoting ISIN, FISN and CFI codes for financial instruments. This is achieved through ongoing, collaborative work with market participants, regulators and other standards bodies.

Under ANNA’s stewardship, the role of the ISIN in enabling global financial communications has been established worldwide. Founded in 1992 by 22 numbering agencies, today ANNA’s membership continues to grow, with more than 120 global members and partners allocating ISIN, FISN and CFI codes on behalf of their local jurisdictions. By putting in place rigorous governance around the development, allocation and sharing of ISIN, FISN and CFI codes, ANNA helps facilitate open, transparent markets diminishing barriers to access, while protecting the integrity of the standards. As a result, ISIN has become the recognised global standard for unique identification for all types of financial and referential instruments, helping to connect and protect global markets.

In addition, ANNA has established the Derivatives Service Bureau (DSB), a fully automated global numbering agency to meet the specific operational and regulatory requirements of the over-the-counter derivatives markets.

For information about ANNA, its members and activities, please visit anna-web.org.

 

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